May 9, 2019 / 10:20 AM / 14 days ago

Banco do Brasil's profit climb as provisions go down

SAO PAULO, May 9 (Reuters) - State-controlled lender Banco do Brasil SA posted a higher-than-expected first-quarter profit as loan-loss provisions fell sharply and despite a contraction of its loan book growth.

Banco do Brasil reported a recurring net income of 4.247 billion real ($1.08 billion), 9.2 percent above average analysts' consensus by Refinitiv and up 40.3 percent year over year.

$1 = 3.9273 reais Reporting by Carolina Mandl; editing by Jason Neely

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